MetaPM Benefits Management Templates

benefits management

Benefits Management allows organisations to determine the true value that is produced from a project or program.  It is important to identify, define, plan, track and realise business benefits, before, during and after a project/program. Do you need assistance or guidance with your benefits management process, try the below templates.

Benefits Realisation Template Here

Benefits Management Strategy Template Here

Benefits Profile Template Here

Benefits Map Template Here

Or get in touch with us at  [email protected] or on 1800 800 436 to discuss how MetaPM can assist with your Benefits Management.

MetaPM also runs the Managing Benefits Foundation and Practitioner Course, which is a Benefits Management guide intended to assist managers and practitioners and their organisations. Learn more and register here.

Business Case – The Art and Science of Decision Making

Business Case – The Art and Science of Decision Making  

We all make decisions at some stage of our life that can vary from moving to a new city, choosing a new car, buying a house or even choosing the right life partner. In all these decisions, we review the value we get from the investment we make. The value can be a financial gain or happiness or comfort or any other parameter we choose, and the investment can be financial, time or efforts.

However, in the commercial world, the art science of decision making for big investment involves deep thinking. A business has a goal and vision to be fulfilled, supported by the right strategy. With the constraints of time, talent and finance, the decisions are made based on the most valuable investment to achieve the goals.

A business case is a tool to identify the value realised from an investment. A good business case must address the below parameters:

CONTEXT – the business case must provide the background information of the problem or the opportunity to be addressed. It must explain the root cause and impact of the problem on the current situation or the reason to tap a new opportunity. If the problem is not related to support the current strategy, it is most likely considered as a low priority.

CLARITY – the business case must clarify that the problem the options to address the problem. It also needs to provide clarity on how the proposed solution will address the root cause of the problem.

JUSTIFICATION – the business case must justify the investment in solving the problem it involves the detailed analysis of the cost, benefits, return on investment and payback period of the investment. It should also provide any risks, the leadership must be aware of. The degree of detail included in the Business Case should be appropriate to the size and complexity of the proposal.

Also, keep it in mind, the rejection of a business case doesn’t mean, the executive team don’t perceive the problem or believe in the opportunity but based on the information, they see more value in investing the limited fund somewhere else than this one. Your job is to help the executive team make the right decision.

Developing the Business Case?

In PRINCE2, the Business Case is developed at the beginning of the project and maintained throughout the life of the project, being formally verified by the Project Board at each key decision point, such as End Stage Assessments, and confirmed throughout the life of the project.

Often, little detail is available when the first version of the Business Case is documented. For example, a project to address process changes may also require supporting software changes however the cost and extent of the software development will not be known until detailed business requirements are developed and analysed.

The Business Case is at the centre of any impact assessment of risks, issues and changes by asking the question: how will this risk, issue or change affect the viability of the Business Case and the business objectives and benefits being sought.

This diagram represents the development path for the Business Case:

P2 Business Case

Business Case Diagram, PRINCE2® 2009, AXELOS Limited 

In this context:

  • Develop means getting the right information upon which decisions can be made
  • Verify means assessing whether the project is (still) worthwhile
  • Maintain means to update the Business Case with actual costs and benefits and current forecasts for costs and benefits
  • Confirm means assessing whether the intended benefits have been (or will be) realised. Confirming benefits will mostly take place post-project.

Types of Business Cases

The reasons for undertaking projects vary enormously and are largely driven by their environment. The nature of the project will determine the objectives that will be used to verify the desirability of the project and later to confirm that the project’s products met the objectives. Such objectives will be measured differently depending on the type of project. For example:

  • Compulsory project – i.e. Maybe required by legislation, i.e. Change in the OH&S Act etc…
  • Not-for-profit project – i.e. Maybe measured against non-financial benefits i.e. Increase in holistic service delivery to constituents.
  • Evolving project – i.e. This is where you do not know what / where you may end up – “unknown unknown!”
  • Customer / supplier project – Typical project where we have a customer and a supplier contractual arrangement – and will more often be based on financial benefits.
  • Multi-organisation project – i.e. A joint project across organisations i.e. MYKI ticketing project in Victoria.

Regardless of the type of measure in place – the basic question of remains, whether the anticipated benefits are more desirable, viable and achievable? Or are there other options available?


 

Looking to implement a business case for an upcoming project? Try using MetaPM’s Business Case Template.

Download MetaPM’s Business Case Template here

Or get in touch with MetaPM’s Associate-Director of Business Analysis and Business Case Capability Lead, Rohit Sayal at  [email protected] or on 1800 800 436 to discuss how MetaPM can assist with your next Business Case.

MetaNewsletter – October 2017

MetaNewsletter – October 2017

Don’t miss our special 20% end of year course discount in our latest MetaNewsletter. Also in this month’s edition, you can download two presentations from events that MetaPM held in the last month, as well as learning about all the upcoming courses, news and employment opportunities at MetaPM.

Never miss a MetaPM Newsletter by subscribing to MetaPM’s mailing list. Subscribe here.

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PRINCE2 2017 – What’s the Difference?

PRINCE2 2017 – What’s the Difference?

By David Schrapel, PRINCE2 Trainer – MetaPM

PRINCE2 is widely considered the leading project management method. In July, AXELOS, the accrediting body of PRINCE2, launched their first update of PRINCE2 since 2009. As one of the leading providers of PRINCE2 Certification in Melbourne, MetaPM is one of the first organisations to now offer the new updated PRINCE2 2017 Foundation and Practitioner Courses.

On September 20, MetaPM hosted a briefing session on the changes between the old PRINCE2 syllabus and the new 2017 update.

You can download the presentations from the briefing by downloading below.

Briefing Session Presentation

PRINCE2 2017

 

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MetaPM Newsletter – August 2017

MetaPM Newsletter – August 2017

In this month’s edition of the MetaPM Newsletter, we will be highlighting the new update of PRINCE2, as well as all the upcoming courses, news and employment opportunities at MetaPM.

PRINCE2 is widely considered the leading project management method. In July, AXELOS, the accrediting body of PRINCE2, launched their first update of PRINCE2 since 2009. As a leading provider of PRINCE2 Certification in Melbourne, MetaPM is one of the first organisations to now offer the new updated PRINCE2 2017 Foundation and Practitioner Courses.

Never miss a MetaPM Newsletter by subscribing to MetaPM’s mailing list. Subscribe here.

PRINCE2 Neswletter

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Enterprise Project Management and Strategy – MetaBreakfast Presentation

Enterprise Project Management and Strategy – MetaBreakfast Presentation

By Rob Loader, Director of Capital Planning & Delivery – Telstra | Dallas Wilkinson, Principal Consultant, MetaPM

On September 14, 2017, MetaPM hosted a Metabreakfast Seminar Event on the topic of ‘Enterprise Project Management and Strategy’. We were very fortunate to have Rob Loader, the Director of Capital Planning & Delivery at Telstra, provide his insights on the topic and how it relates to Telstra. Dallas Wilkinson, a Principal Consultant at MetaPM also presented, providing a high-level overview on the correlation of EPM and organisational strategy.

You can download the presentations from the seminar by downloading below.

Enterprise Project Management

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Blog – What Everybody Should Know About PRINCE2 2017

PRINCE2 2017 Blog Banner

What Everybody Should Know About PRINCE2® 2017

Introduction

PRINCE2’s certifying body—AXELOS—recently published an updated version of the PRINCE2 project management method, that reflects an evolution in the project management training world. This sees the first major update of PRINCE2 since 2009. As one of the first Accredited Training Organisations to offer the new PRINCE2 2017 courseware, we are providing an overview of the changes to the methodology/syllabus. For readers who need PRINCE2 certification, this guide serves as an outline of relevant information.

While PRINCE2 has always been tailorable, and versatile enough to handle the complexities and requirements of different projects, recently, it has garnered a reputation for being inflexible and procedure-heavy. AXELOS has taken on board this feedback and consequently, the update addresses the following:

  • Greater emphasis on scalability and flexibility;
  • More clarity on how the themes and principles are connected;
  • More emphasis on the core principles of PRINCE2;
  • Significantly more hints, tips, and examples of how to apply the new guidance;
  • Higher readability and greater support regarding tailoring the program;
  • Removal of configuration management.

Differences: Principles

There is very little change regarding the underlying principles of PRINCE2. With the updated version, there is actually a greater emphasis on these principles, however, they have added a key message for each principle which should help those to help understand the principles better and assist with those taking the Foundation exam.

Differences: Tailoring

Unlike in the PRINCE2 2009 version, the tailoring text is toward the front of the updated PRINCE2 2017 manual, making it more accessible to readers. There is specific guidance on Agile adoption and frequent references to using PRINCE2 with Agile. The update also includes specific guidance about recognising the minimum requirements for a PRINCE2 project and on making selective, but good use of the method, appropriate to the scale of the project at hand.

The main focus is on how to utilise PRINCE2 in an organisation with relevant topics such as:

  • Embedding PRINCE2 into an organisation;
  • Tailoring it to fit the organisation.

Additional tailoring topics include:

  • Tailoring the terminology
  • Tailoring the principles
  • Tailoring the roles
  • Tailoring the themes
  • Tailoring the management products
  • Tailoring the methodology

Differences: Themes

PRINCE2 2017 maintains the same seven themes from the previous incarnation being: Plans, Risk, Progress, Change, Quality, Organisation, Business Case. However, each of the themes now has additional support information. This new information is the minimum requirements for each theme and a guidance for implementation.

The PRINCE2 2017 Exams

The syllabus and exams have been streamlined in PRINCE2 2017. There is much more emphasis on Applying PRINCE2 in the exams.

Foundation Exam

There are now 60 questions instead of 75. The foundation exam’s pass mark has been readjusted to 33. There are also fewer negative and list questions.

Practioner Exam

This exam tests candidates on all aspects of the methodology, thereby rendering all aspects of the methodology relevant for the exam.

There are fewer questions about management products; instead, there’s a focus on practical application and operation in a project environment. The amount of additional material is also reduced.

There are 68 questions instead of 80, and all of the questions about response, assertion, and reasoning have been removed. The pass mark is now 38.

Although many of the changes between PRINCE2 2009 and 2017 are subtle, there are enough differences that make retraining important. For readers who haven’t been trained on the new material, re-sitting the course will be very helpful.


Get Certified in PRINCE2 2017 with MetaPM

As a leading provider of PRINCE2 Certification in Melbourne, MetaPM is one of the first organisations to now offer the new updated PRINCE2 2017 Foundation and Practitioner Courses.

Click here for more information on the course and to register

MetaPM Newsletter – July 2017

MetaPM Newsletter – July 2017

MetaPM has released its newsletter for the month of July. Studies show that nearly 60% of organisations consider organisational capabilities such as project and talent management atop-three priority, yet investment into capability development does not reflect its significance. Investments in structures and systems are wasted if your people do not have the capability or competency to successfully meet their deliverables. It is paramount to assess your staff’s competency as to identify how to properly develop your talent and if necessary, bring in new talent with greater capability.

Never miss a MetaPM Newsletter by subscribing to MetaPM’s mailing list. Subscribe here.

July Preview

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Staff Testimonials – Darren Clifford’s Story


Meet Darren Clifford

Senior Business Analyst

With MetaPM since 2015

MetaPM clients that Darren has worked with:

  • Sportsbet
  • Australian Catholic University
  • Charles Sturt University
  • Catholic Church Insurance

Darren Clifford

What do you enjoy most about working @ MetaPM?

The people, both MetaPM and clients. Projects come and go but it’s the people that you worked with that you remember. They’re the ones that you catch-up for lunch or drinks when the projects’ long since delivered.

If you were to describe our company in 3 words, what would they be?

Expert Project Delivery.

What do you like most about your job?

I love the variety. Not just in clients but in tasks and projects. I’m not one for daily routine and I like to be challenged. I like that my projects are all different and that I meet and interact with different people, different industries, and different ways of working. Every day is both a learning and teaching experience.

What does a typical working day look like for you?

It really depends on the project but it always involves client interaction. Whether it be a workshop with the business, review with a technical team, or a demonstration from a vendor. Rare are the times when I am sitting at my computer for the entire day.

What is one of the most interesting tasks / projects you have worked on?

I’ve worked for clients from on-line wagering, to higher education, and to insurance companies. I think that when you’ve worked at Sportsbet and Catholic Church Insurance, it’s fair to say that you’ve covered a wide the range of clients. I’d say that Sportsbet was the most interesting client mostly because I have an interest in sports even though my project wasn’t related to the betting, it was still a great environment.

If you were to recommend us to someone who would it be and why?

I have recommended MetaPM to a number of my former colleagues. Some have been employed for contracts and some are still waiting for the right opportunity. It is a great place to work and the support available to consultants is amazing. The BA practice is growing and it’s a good time to be part of it.

What led you to become a consultant?

My first full-time job was with a consulting firm. So, really, it’s how I thought work was in the IT industry. I enjoyed the project based work and moving around with different clients. I’ve worked at organisations before as part of the IT department but missed the variety that consulting brings. I also enjoy the client interaction and stakeholder management side of the roles. It’s something I found I had an aptitude for and have really tried to build on that.

What gives you the greatest satisfaction in your role?

There are a number of elements from which I draw satisfaction. One is the feeling when the requirements that you’ve created come to fruition in a solution. Another is that point when a BA becomes a trusted advisor to the business. To know that you have earned the confidence of the business is something else. It’s even more meaningful when it is in an industry that you’ve never worked in before.

What’s one interesting thing about you that not many people know of?

I love Karaoke. I absolutely suck at singing but I will willingly get up and sing karaoke stone cold sober. The one thing that I think ruins karaoke nights are people that can really sing. Rack off and go try out for The Voice or X-Factor and stop ruining everyone’s fun. Good karaoke nights become sing-a-longs for everyone in the room.